Overall, Shinkong Insurance Company's underwriting profitability and return on equity have consistently outperformed the industry average over the past five years, AM Best said.
Great Eastern Holdings (GEH or the Group) has reported a profit attributable to shareholders of S$306.7m ($225.5m) for the first quarter of 2024, representing an increase of 26% over the corresponding quarter in 2023.
Mid-tier non-life insurer Tower is expected to decrease its expense ratio over the medium term as the company grows its premium base and improves efficiency through IT transformation, according to AM Best.
Ping An Insurance (Group) Company of China (Ping An) has announced that its net profit attributable to shareholders stood at CNY36,709m ($5,071m) in the first quarter of this year, a fall of 4.3% compared to the corresponding quarter of 2023.
The takaful sector remains a small player within Islamic finance, accounting for less than 2% of the total market. Despite this, the global takaful market surpassed $30bn in 2023, according to the Arab Monetary Fund (AMF).
Corporate valuation can be boosted by adopting proactive climate risk management according to a new study by the University of Florida.
Nearly three quarter of insurers are investing in private markets or plan to do so as firms put excess cash to work according to a global survey.
India's life insurance market posted a 2% increase in total new business premium (NBP) to INR3,780bn ($45.4bn) in the financial year ended 31 March 2024 (FY2024), according to data from the Life Insurance Council.
Moody's Ratings (Moody's) has changed the outlook to 'Stable' from 'Negative' of Peak Reinsurance (Peak Re) and it affirms the reinsurer's 'Baa1' insurance financial strength rating (IFSR) and the 'Baa3 (hyb') backed subordinated debt rating of the subordinated perpetual securities issued by Peak Re (BVI) Holding'. These securities are irrevocably and unconditionally guaranteed by Peak Re.
The operating performance of the Sanlam insurance group was resilient in 2023, supported by life underwriting performance, and strong growth in life premiums, especially in Asia driven by India (albeit dampened by weaker performance in Malaysia), according to Fitch Ratings.